UPDATE 2-Brazil central bank bets on stable rates to curb inflation

BRASILIA, Sept 11 (Reuters) - Brazil's central bank signaled
it would keep interest rates high for some time to curb
inflation, resisting pressures to cut borrowing costs to help
lift the economy out of a recession.

In the minutes released Thursday from its last rate-setting
meeting, the bank said keeping interest rates at current levels,
the highest since 2012, would bring inflation down toward the
official target of 4.5 percent.

The bank last week kept its benchmark Selic rate
on hold at 11 percent for the third straight policy
meeting. It also altered its decision statement to suggest it
would maintain the high rates at least until the end of this
year.

"The central bank very strongly suggests that it does not
intend to cut rates," said Gustavo Rangel, chief economist for
Latin America at ING. "What we have here is the maintenance of a
fairly neutral guidance, but it's a very short-term guidance
because it will all depend on who wins the election."